Biophan Names Margaret V. Russell as Chief Financial Officer

PITTSFORD, NY--(Marketwire - July 14, 2008) - Biophan Technologies, Inc. (OTCBB: BIPH), a
developer of next-generation biomedical technology, today announced that
the company has named Margaret V. Russell as chief financial officer.

Ms. Russell served as Partner, Director, and Senior Manager at Insero &
Company CPA's, P.C. since 2001. As a partner in the outsource accounting
services group, she dealt with small public and high growth industry
companies with specific knowledge in the software, pharmaceutical, and
medical device industries. From 1999 to 2001, Ms. Russell served as
Manager of the Assurance and Business Advisory Services Division at Arthur
Andersen LLP. Previously she also held the role of senior auditor at
PricewaterhouseCoopers, LLP.

Commenting on the appointment, Biophan CEO John Lanzafame stated, "It is
with great pleasure that we welcome Meg to the Biophan team. Her
experience and expertise will provide a key source of strategic input, and
she adds a dynamic element to our management group. Meg will play an
essential role in developing a finance strategy to support the ongoing
development of the Company's assets."

"I am very excited about this opportunity and the growth potential here at
Biophan," stated Ms. Russell. "I look forward to contributing to the
Company's future growth and success, and am excited about the new direction
of the Company."

Ms. Russell is a graduate of both St. John Fisher College and SUNY at
Fredonia. She is a CPA and member of the American Institute of Certified
Public Accountants.

Biophan also announced the retirement of Robert J. Wood, who has served as
Interim Chief Financial Officer since June 2007. "We thank Bob for his
service and dedication during his tenure," said John Lanzafame, Biophan's
CEO.

About Biophan Technologies, Inc.

Biophan is dedicated to providing technologies that offer innovative and
competitive advantages to the medical device industry. The Company is
helping to commercialize the Myotech Circulatory Support System, which has
significant potential to improve the treatment of acute heart failure.
Biophan Technologies, Inc. holds a 70% interest in Myotech with rights to
acquire additional equity, and is leading Myotech's business development
efforts. Biophan is traded on the OTC market under the symbol BIPH, and is
also listed on the Frankfurt Stock Exchange under the symbol BTN. For more
information on Biophan, please visit our website at www.biophan.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements included in this press release may constitute
forward-looking statements within the meaning of applicable securities
laws. These statements reflect what Biophan anticipates, expect, or
believe may happen in the future. Biophan's actual results could differ
materially from the outcome or circumstance expressed or implied by such
forward-looking statements as a result of a variety of factors including,
but not limited to: Biophan's ability to develop its technologies; the
approval of Biophan's patent applications; the successful implementation of
Biophan's research and development programs; the ability of Biophan to
demonstrate the effectiveness of its technology; the acceptance by the
market of Biophan's technology and products incorporating such technology;
the ability of Biophan to effectively negotiate and enter into contracts
with medical device manufacturers for the licensing of Biophan's
technology; competition; the ability of Biophan to raise capital to fund
its operating and research and development activities until it generates
revenues sufficient to do so; and the timing of projects and trends in
future operating performance, as well as other factors expressed from time
to time in Biophan's periodic filings with the Securities and Exchange
Commission (the "SEC"). As a result, this press release should be read in
conjunction with Biophan's periodic filings with the SEC, which are
incorporated herein by reference. The forward-looking statements contained
herein are made only as of the date of this press release, and Biophan
undertakes no obligation to publicly update such forward-looking statements
to reflect subsequent events or circumstances.